Multicamera is limited to four cameras, directly. However, there is nothing stopping you from dropping one multicam sequence into another...

I'd create one sequence (let's call it Multicam C) and in it, place the four camera angles that I'm most likely to use. Nest into a new sequence, called Multicam B, enable multicam on it, and edit. When done, add the fifth camera angle to Track 2, and next Multicam B into a new sequence called Multicam A. Enable multicam on that sequence, and now you can edit between the pre-cut four track sequence and the fifth angle (maybe a wide cover shot, for example).

Ouch. Yeah... depending on the length of your edit, you may be in for a rather painful experience. As more edits get added to the sequence, the project file will summarily grow larger and larger, and the program is going to get less responsive in degrees. Your system, unfortunately, is rather underpowered given the task ahead of you. You might want to consider creating DV proxies of all of your footage, editing with that, and then replacing the proxies with the full-resolution clips after the edit. Otherwise... you might be working on this project for months

Regarding the number of cams: I think FCP does nine, but personally, I have enough trouble with four just from a viewing-them-all-at-once standpoint. Depending on the nature of the shoot, there may just be so much activity on the screen that it's hard to pinpoint the angle you want to take. I shoot dance performances, usually with three and sometimes four cameras (tried five at the last one, but that camera crapped out), and the movement is enough to give you seizures. Something slower would be OK with more angles, but I'd have to work in chunks.

I figured I would bump this question and ask my question as it's very similar.

So I am cutting a 5 camera angle concert and followed the advice from Colin of creating 3 sequences. I have cut through the 4 angle version and I have synced up my 5th angle in that nested loop and I'm getting ready to cut the previous 4 cam + 1 in a new sequence, but before I being I was wondering where, when, and how should I add fades? On almost all the cuts I will place a short cross-fade to soften the cuts, but with creating this new sequnce, I'm not sure when and where I should add the fades... Does that make sense?

It would be great if you would take the time and each fill out a feature request to support more angles for multicam. You know the drill: File a feature request here: http://www.adobe.com/go/wish . More on how to give feedback: http://bit.ly/93d6NF

Well, if Sequence A contains your first four angles synced up, and Sequence B contains the edit of Sequence A on Track 1 and Angle #5 on Track 2, and Sequence C contains the final edit, you'd add your dissolves on Sequence B Track 1 and Sequence C Track 1.

Got all that?

Sequence B Track 1 is going to give you dissolves between your first four angles, and Sequence C Track 1 is going to give you dissolves between those angles and the last angle. Now, you'll probably have to do a bit of jumping back and forth between Sequence B and Sequence C to space your edit properly (otherwise you might end up with dissolves on top of dissolves), but you can create two Timeline panels to make that a little easier.

Post back if that's not clear... which I can understand might be the case

Alright I pretty much get what you're saying... I'm going to go ahead and add my fades to 'B' and then start cutting the pre-cut4 with the 5th aka 'C'. What I'm worried about is the over-lapping fades as I can see that happening as there are a lot of cuts happening.

@ Kevin - it's very annoying that CS5 doesn't support more than 4 camera angles. I come from FCP where there is 9? I'm in the market for a new computer and I think I might go back to Apple for FCP because it's really frustrating not being able to handle more than 4 cams.

Yes, we are aware our users would like to have more than 4 angles in multicam. As I mentioned earlier, the best way to get more angles for the multicam feature is to file a feature request. The more requests we have for a feature, the more seriously it will be considered for future versions. You can file a feature request here: http://www.adobe.com/go/wish . More on how to give feedback: http://bit.ly/93d6NF

Yes, FCP does support more than 4 angles. I believe you can have many more angles than 9, however, a multicam session gets very unwieldy when you're trying to monitor more than a few angles at the same time. You're going to need fast drives (RAID) in FCP for a multicam session with more than a few angles, as well. Plus, if you want to edit with FCP's multicam feature and video from a tapeless camera, you'll have to transcode it to another format like ProRes LT or 422 before you can even start editing. That takes time (and drive space), which is tough if you are on a deadline. Just some things to keep in mind.